Dundee Precious Metals (TSE:DPM) Raised to "Strong-Buy" at Macquarie

Key Points

• Dundee Precious Metals has been upgraded to a "strong-buy" rating by analysts at Macquarie, indicating strong confidence in the stock's future performance.
• Multiple analysts have raised their target prices for the stock, with an average target price now set at C$27.28, reflecting positive sentiment in the market.
• The stock has experienced significant growth, with a current market price of C$30.19, compared to its 1-year low of C$12.30.

Macquarie upgraded shares of Dundee Precious Metals (TSE:DPM - Free Report) to a strong-buy rating in a report published on Wednesday morning,Zacks.com reports.

Other analysts also recently issued research reports about the company. Scotiabank raised their price objective on Dundee Precious Metals from C$26.50 to C$28.50 and gave the stock an "outperform" rating in a research note on Thursday, September 4th. TD Securities raised their price objective on Dundee Precious Metals from C$23.00 to C$25.00 and gave the company a "buy" rating in a report on Monday, June 16th. CIBC lifted their price target on Dundee Precious Metals from C$23.00 to C$25.00 in a report on Monday, June 16th. Royal Bank Of Canada lifted their price target on Dundee Precious Metals from C$24.00 to C$32.00 and gave the stock a "moderate buy" rating in a report on Wednesday, September 10th. Finally, Canaccord Genuity Group lifted their price target on Dundee Precious Metals from C$23.00 to C$25.00 and gave the stock a "buy" rating in a report on Tuesday, June 17th. Two research analysts have rated the stock with a Strong Buy rating and five have given a Buy rating to the stock. According to data from MarketBeat, the stock has an average rating of "Buy" and an average price target of C$27.28.

Dundee Precious Metals Price Performance

Shares of DPM stock traded up C$0.46 during trading hours on Wednesday, hitting C$31.66. 349,384 shares of the company's stock were exchanged, compared to its average volume of 730,508. The stock has a market cap of C$7.02 billion, a price-to-earnings ratio of 22.78, a price-to-earnings-growth ratio of 0.04 and a beta of 0.79. The stock's 50-day moving average is C$25.39 and its 200-day moving average is C$21.74. Dundee Precious Metals has a 52 week low of C$12.30 and a 52 week high of C$31.87.

Dundee Precious Metals Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 15th. Investors of record on Tuesday, September 30th will be paid a $0.04 dividend. This represents a $0.16 annualized dividend and a dividend yield of 0.5%. Dundee Precious Metals's dividend payout ratio is 11.51%.

About Dundee Precious Metals

Dundee Precious Metals Inc, a gold mining company, engages in the acquisition, exploration, development, mining, and processing of precious metals. The company primarily explores for gold, copper, and silver deposits. It holds a portfolio of projects located in Bulgaria, Namibia, Serbia, and Ecuador.